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Tuesday, September 8, 2009

The Stimulus is Working. For Some.

The Washington Post reports that the $787 billion stimulus package is great for the economy, at least in Washington, D.C.
If projections bear out that the federal government will hire up to 120,000 people for jobs in the region over the next few years, the Washington area economy could be on its way to a rebound faster than most of the nation.

Such a hiring boom would have widespread benefits, economists who study the region's employment and housing patterns said. It could reduce the region's unemployment rate, now at 6.2 percent, if jobless people here are hired, and it could revive stagnant home sales if people outside the area are hired. Moreover, as agencies expand to accommodate more workers, they could opt to lease space, boosting the moribund commercial office market.

We're all paying a high price to create those jobs, which we will be paying for generations.

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